Deregulation Pains

December 2, 1985|By Susan G. Strother

GAINESVILLE — Banking deregulation is hurting minorities, the elderly and low-income Americans, a University of Florida law professor said. Winnie Taylor, who also serves on the Consumer Advisory Council of the Federal Reserve Board, said banks have increased service charges on checking accounts below a certain level and are requiring high balances to open or maintain accounts. He said these practices, and others, are discouraging people from opening checking and savings accounts.